Logrolling Occurs When

question 9

Multiple Choice

Logrolling occurs when

• A)budget deficits snowball out of control.
• B)members of Congress trade votes to get their programs passed.
• C)forest companies use their political muscle.
• D)members of Congress doctor their expense logs.

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Definitions:

Allowance Method

An accounting technique used to estimate and account for doubtful accounts receivable.

Uncollectible Accounts Expense

An expense reported on the income statement, pertaining to the debt owed to a company that is unlikely to be recovered.

Percentage Of Credit Sales

A method used to estimate bad debts expense, based on the percentage of sales made on credit that are expected to be uncollectible.

Allowance Method

An accounting technique used to estimate and account for bad debts, acknowledging that a certain percentage of sales or receivables may not be collected.